Canada’s biggest pension plan aims to back as many as four fledgling hedge funds a year at a time when investors are balking at high fees and disappointing returns from the industry’s biggest managers.
Canada Pension Plan Investment Board has made initial investments of as much as $250 million each in five startups and young hedge funds under its Emerging Managers Program in the past two years, according to Poul Winslow, Toronto-based head of thematic investing and external portfolio management.
